uh oh! Is Louisville's housing market cooling down? A gloomy September for house sales in one of Louisville's biggest neighborhoods, Lake Forest.
Is Louisville's real estate market cooling down? It was a gloomy September for house sales in one of Louisville's largest neighborhoods, Lake Forest.
During the "hot" months, April through August, Lake Forest had between 9 and 12 houses selling every month. September saw a dramatic drop in home sales. Only 4 houses sold in September in Lake Forest. As of today there are 42 houses for sale. At this rate, it will take 10 months for all of the active houses to sell.
In September, the average Lake Forest home sold for 95% of the asking price. During the "hot" months, homes in Lake Forest sold for around 97% of the asking price.
The more expensive homes were selling earlier in the year. In April, $792,555 was the average sales price in Lake Forest, by September 2015 the average had dropped to $356,250.
One year ago, the average price in September 2014 was $599,800
The lesson of this? You need a realtor that knows the market if you want your house sold.
You need a realtor with negotiation experience to get the best price you can get right now.
Houses aren't selling themselves anymore.
More stats about Lake Forest can be found online at lakeforest.rivervalleygroup.com
If you want to know what these statistic numbers are for your neighborhood, email firstname.lastname@example.org or call 502-265-5818
*source: flexmls data of sold properties